Impossible Finance Partners with Truflation to Accelerate Reliable and Decentralized CPI Data Access
Impossible Finance is thrilled to join hands with Truflation to drive greater awareness and adoption of censorship-resistant data by expanding Truflation’s reach to our wider Impossible Finance ecosystem.
We are excited to announce our partnership with Truflation, a decentralized data oracle that aims to provide the most objective and current financial and economic data. This article will detail the essence of our collaboration as well as exploring Truflation’s innovative solutions.
Truflation is the first true US inflation index based on the independent data sources and metrics that Web3 developers and DeFi protocols can access freely on-chain via Chainlink oracles.
Existing data lacks transparency
Currently, DeFi protocols face challenges in accessing real-time data across various markets. As data continues to be a key driver for multiple stakeholders within the crypto industry — from institutional traders and regulators to retail investors — access to high-quality, real-time data becomes increasingly important. The availability of on-chain data is also pertinent to building the underlying financial tools and infrastructure of DeFi protocols.
Traditional methods of calculating curated data like inflation indexes are outdated which drastically reduces the reliability and accuracy of available data. Largely controlled by government bodies, there is often a lack of transparency on where data is being sourced and calculated, while inflation indexes also do not fully capture the nuances of inflation leading to lagging indicators and inaccurate data that impede on the ability to make the best decisions. In a fast-paced crypto economy, accessing accurate, real-time data is key.
Truflation empowers better decisions with accurate and real-time data
Truflation solves this by aggregating more than 50 data sources to obtain granular daily data encompassing markets like precious metals, commodities, utilities and transport. With transparency and censorship-resistance at its core, Truflation aims to empower individuals to hedge against inflation and make better data-driven decisions through their suite of data solutions. Its pioneering inflation index is updated daily with real-time information, publicly and easily accessible as a data dashboard to anyone.
Additionally, the availability of on-chain data via Chainlink is also building the underlying financial tools and infrastructure of DeFi protocols. The Truflation Oracle provides reliable daily inflation updates to projects and DeFi applications across all blockchains which aligns with their mission to provide objective, decentralized, and current economic and financial information through on-chain price indexes, empowering the development of innovative blockchain products.
The TFI Token
TFI is Truflation’s native governance token that helps to drive the Truflation data economy, keeping Truflation independent, decentralized and self-sustainable.
Truflation token incentivizes data providers, analysts, curators, and validators to share, combine, and verify, using Truflation data.
It sustains Truflation's data streams and maintenance costs keeping Truflation independent.
It helps decentralize data, governance, and verification.
Impossible Finance is thrilled to join hands with Truflation to drive greater awareness and adoption of censorship-resistant data by expanding Truflation’s reach to our wider Impossible Finance ecosystem. Through this partnership, we also aim to propel Truflation’s growth through our range of advisory services ranging from tokenomics, business development, strategic partnerships and market expansion.
In addition to the collaboration between Impossible Finance and Truflation, users can look forward to a range of exciting campaign opportunities. These campaigns will not only enhance user engagement but also foster a sense of excitement and anticipation as they explore the cutting-edge possibilities and benefits offered by the collaboration between Impossible Finance and Truflation. Stay tuned for updates on the upcoming campaigns.
Truflation offers a new inflation truth-set to provide reliable financial data for better decision-making. It uses 10 million data points and updates indices daily, offering more comprehensive and up-to-date information compared to traditional indexes updating monthly. Truflation's secure blockchain infrastructure provides unbiased, verifiable data for the growth and sustainability of business decisions.
Impossible Finance is the go-to crypto investment platform that empowers you with high-quality, fair and accessible crypto opportunities. We simplify DeFi so you can enjoy fairer investing, cheaper trading and better yields through our accelerator, launchpad, and swap platform.
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Do you have burning questions about Chronos Finance, Impossible Finance's most recent launch partner? The best time to ask your questions is during our AMA on 25/04/2023 at 12:00 PM UTC on the Impossible Finance Telegram group!